Safford — While some communities in Graham and Greenlee counties have historically struggled to maintain good financial practices, the opposite is true in the City of Safford.
At Monday’s meeting, the city council is expected to hear from Baker-Tilley’s financial audit firm to report that the city has no material financial weaknesses or major deficiencies. Therefore, the audit firm recommends keeping a course on how the city handles its finances.
Audit highlights show the city kept spending at 25% of the limit allowed under state law. Also, under Arizona Department of Environmental Quality regulations, both the cash-to-expenditure ratio and the debt-to-expenditure ratio meet the requirements.
Sovereign wealth funds have an asset-to-liability ratio of about three times, and business-related funds have an asset-to-liability ratio of more than five times.
Also on Monday’s agenda, the council will be asked to elect a deputy mayor. Boys & Girls Clubs of Gila Valley, Mount Graham Safehouse, Safford Downtown Association, Graham County Chamber of Commerce and Safford Pride among others.
The City Council will meet in the library’s programming room at 6:00 pm on Mondays. The meeting will also be streamed live on the city’s YouTube channel.
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